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This article was last updated Nov. 22, 2024.
Nekst is software for managing transactions and real estate business workflows
Platforms: iOS; Android; browser
Ideal for: All agents; transaction coordinators
Initial review: Apr 2015
Update: Nov 2024
Top selling points:
- Document data extraction
- Custom template application
- Task automation
- Creation of best practices/standards
- Custom workflow creation
- Scalability
Top concern:
Proliferation of enterprise systems providing their own transaction management systems. In short, competition for the adoption of a stand-alone application for managing deals.
What you should know
Nekst has changed pretty dramatically in its look and delivery since it was initially launched and reviewed almost a decade ago. Its root drivers remain intact: mainly, its ability to intricately break down real estate transactions by task, person and time, and its intrinsic user experience that, while totally redesigned, maintains a project-first mindset.
By that, I mean that it treats each deal as a stand-alone thing you need to get done, for lack of a better description. “Do this, therefore that, and alert them” and on to the next. There are interfaces to view all deals concurrently, a calendar that can be filtered by transaction or task, or used to get a wide-scale perspective of what’s closing over the next few weeks. It uses tags
By existing out from under the weight of an associated ecosystem, Nekst keeps its focus on what needs to get done, the outline for which is gleaned from an uploaded contract. There aren’t SkySlope or DocuSign integrations yet, a feature I’m actually okay with it going without because again, it allows the transaction coordinator to get in, get out and move on.
This is why I also like its rather mundane, clinical front end. It doesn’t need to be consumer-facing or “gamified” in any way. Nekst is a business tool that can help TCs quickly and productively help the brokerage get more deals to the finish line.
Nekst works with customers to create an initial workflow or rather, overlap a business process with the software’s functionality. (This is the exact kind of work that led me to this very job.) The system is super malleable, so it’ll bend to the whims of your most misaligned workflow for the sake of creating order.
Whether it’s a listing agreement or an offer to purchase, Nekst’s AI will load the appropriate sequence according to the document type you upload. Heck yeah.
Dates, terms, names and property data populate across each function, making manual input pretty much a thing of the past. You can edit on occasion as needed in case negotiation pushes around your standard contract dates or whatever. Easy enough.
Any email that needs to be sent is attached directly to its associated step in the deal and is populated with all the right parties in the send field and even the content can list the pertinent dates and attach documents to be signed, if appropriate.
Nekst has also added a nice client portal of sorts, basically a comprehensive destination that doesn’t require an account and serves to keep consumers in the loop as things fall into place.
Real estate agents should put more weight on the word “transaction.” It’s so much more than a euphemism for “sale.”
Think of a transaction as any exchange of information. A handshake. A handing over of documents. An email conversation. How does each party benefit? What did you transact over coffee this morning?
Every promise made to complete a task or call someone is a transaction. If you’re late or forget, you failed the transaction.
When you think of transactions in this more esoteric sense, you can get a better grasp of how important each interaction with a client is to the end goal of helping them buy or sell.
I call Nekst a true transaction management tool because it forces agents to think about the information and the process, not the paperwork. It aims to help organize and connect all the minor, non-financial transactions that drive real estate sales, the daily tasks busy agents try to manage mentally, instead of actually.
The most critical benefit of Nekst is what it does for how your office coalesces around transactions. After all, that’s where the money is made, that’s where the attention needs to be. This software, like Trackxi and ListedKit, helps create standards of practice and systems for work, which in turn become business intelligence and value contributors.
It can help you get new agents and staff onboard in less time and makes it easier to identify choke points in your business.
Yes, Nekst looks a lot different than what I remember. It’s also smarter.
The years have been kind.
Do you have a product for our tech expert to review? Email Craig Rowe.
